Another top trading executive has left Credit Suisse in New York

Chip Clingham, the head of equity sales trading in New York, is
among those to have recently left the bank in another round of
layoffs, according to people familiar with the matter.

Clingham is a veteran of the equities industry and spent over
seven years at the bank. Once a captain in the US Army, Clingham
worked in equities sales and trading at ABN AMRO and Deutsche
Bank before joining the Swiss bank.

This latest round of layoffs is part of an ongoing downsizing at
Credit Suisse's investment bank. The bank laid out plans in
October 2015 to cut thousands of jobs and then said in March it
would cut deeper still.

The markets businesses, which typically house fixed income and
equities units, have been a source of pain for many Wall Street
banks and a particular target for layoffs. At Credit Suisse, that
unit generated a $23 million loss in the second quarter. The bank
is scheduled to announce third-quarter results on Thursday.

There have also been changes at the top of the markets business,
with Brian Chin succeeding Timothy O'Hara as CEO of global
markets. Earlier in the year, the bank named Mike Paliotta to run
the equities business globally, while Steven Garnett, who had
been a cohead of equities in the Americas, retired.